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WeChat eyes blockchain for faster corporate expense refunds

WeChat eyes blockchain for faster corporate expense refunds
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Tencent has piloted the application at a local restaurant in Shenzhen, China, where a user paid the bill through its existing payments service WeChat Pay.By feeding the payment data over its blockchain platform to the user’s employer, the restaurant and Shenzhen’s local taxation authority, Tencent said delays normally encountered via the standard manual claims process are eliminated. As such, the company hopes its system will eventually find use in streamlining and hastening the expense reimbursement process, while also reducing the prevalence of falsified receipts.

Read the full story at https://www.coindesk.com/wechat-trials-blockchain-for-faster-refunds-of-company-expenses/

SOURCE: Coindesk

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